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Chart of the Day: This graph shows 15 straight quarters of robust demand for office spaces
Demand was boosted to 527,000m sq ft.
According to Credit Suisse, 2Q13 marked the 15th straight quarter of positive private office net demand, coming in as a positive surprise given the continued weak macro-economic conditions.
Credit Suisse said that net demand of 118,400 sq ft brings YTD net demand to 527,400 mn sq ft (slightly below full-year estimate of 1.28 mn sq ft, which is based on the 2004-08 mid-cycle average demand).
"However, we expect the coming quarters to remain relatively lacklustre due to slow leasing demand and the 'musical chair' effect; the relocation of tenants offsetting any incremental demand by inadvertently creating vacancies," Credit Suisse said.
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